2007 Orange County Real Estate Forecast – Gary Watts

Thinking about Buying a Home – Great Economic Forecasting Information for OC in 2007

Hi there!

Many of you have been abuzz with what is going on with the real estate market this year. Angie and I attended a great informative seminar today, and we felt obligated to share the information with you all. Many of you have heard of Economist Gary Watts, he’s predicted the market almost exact the last 10 years running.

Bad news:
As most people were interested in buying a home last year, many did not because they were afraid of the real estate”bubble bursting” myths. As they waited to see what the market was going to do, many of them missed out on another year of positive gains.

Good news:
The so called bubble did not burst, and it barely leaked any air. Property owners in Orange County last year did not see record breaking gains as in the previous 3 years(upwards of 17%) but the gains were still there none the less. The average appreciation in OC last year was about 4.5%. So this means if you would have bought a median priced home of $600,000 you would have made close to 30k in equity. Most people say they want to wait and save enough to get a down payment and make sure it is going to be affordable to own a home. The truth is waiting could be costing you a lot of money, thousands of dollars! I don’t know the savings/spending habits of you all, but if any of you are like us you would find it very hard to save 30k in 1 years worth of time. However, if you bought a property and got the financing last year and lived in the property this year as well as next and then sold it, you would have now saved close to 60k in a 2 year time frame. You now have your down payment for your next BIGGER home.

Better news:
There is no real estate bubble. We know that the media likes to strike fear in the public by calling it knowledge but most times they don’t give you the so called “fine print”. If they did then you would soon learn that the numbers and facts they give in their reporting is skewed at best. We have pulled all the actual factual data and have all the stats to prove this information. The market has all ready started to rebound and it shows. More properties are selling each month. The amount of inventory is still declining which means a property priced right is still going to sell. The interest rates are still at record lows and are expected to go even lower. The economy is as strong as ever and unemployment in Orange County is the lowest unemployment record in the nation. These are all signs that the next year in real estate is going to be another successful one.

We want you to enjoy the benefit of owning a home so please give us a call to discuss this information and so much more. We look forward to hearing from you. If you would like more information on this seminar, we are in the process of uploading a dvd we purchased of the seminar. It should be available on our website by Monday. Check back and listen to everything Gary had to say about Orange County Real Estate and where the market will be in the next 12 months!